Manycore Tech (HKG:0068) said the stabilization period of its initial public offering ended on Thursday, May 14, according to a Monday filing with the Hong Kong bourse.

Shares of the Chinese cloud-native spatial design software provider gained nearly 2% in morning trade on Tuesday.

During the period, the IPO's underwriters fully exercised the listing's overallotment option for 24.1 million shares at HK$7.62 apiece.

The overallotment option was exercised after the same number of shares were over-allocated in the international portion of the IPO.

The number of shares held by the public after the exercise of the overallotment option complied with Hong Kong's listing requirements, the firm said.